Concert Infrastructure Fund announces $150 million recapitalization

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Concert Infrastructure Fund announces $150 million recapitalization

Concert has announced the recapitalization of Concert Infrastructure Fund (CIF) with an additional C$150 million irrevocable commitment from existing unit holders.

The recapitalization was made through a rights offering which supports planned and future investments in Canadian infrastructure projects.

David Podmore, Concert Infrastructure Ltd.'s Chairman & CEO, stated:

"This successful rights offering speaks directly to the trust we have built with our unit holders, and our combined confidence in the Canadian infrastructure and P3 (public-private partnership) market to continue providing attractive long-term returns."

"In addition to reinforcing the company's mission to invest and manage infrastructure projects over the long term, this re-capitalization clearly demonstrates to procuring authorities that Concert Infrastructure has the capacity to adequately fund P3 projects well into the future."

Concert Infrastructure Fund was first established in 2010 with the mission of enabling Canadian pension plans to directly invest in and manage Canadian infrastructure projects. The fund is overseen by Concert Infrastructure Ltd. and owned by 10 Canadian union and management pension funds.

As of today, the fund holds investments and irrevocable commitments of C$355 million. Concert Infrastructure remains primarily focused on direct investment and management of Canadian infrastructure assets over the long term.

Share this news